Old Point Financial (NASDAQ:OPOF) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Old Point Financial (NASDAQ:OPOF) in a report published on Wednesday. The firm issued a hold rating on the bank’s stock.

Old Point Financial Stock Up 0.7 %

Shares of NASDAQ OPOF opened at $22.20 on Wednesday. Old Point Financial has a 12-month low of $13.49 and a 12-month high of $22.52. The company has a market cap of $112.78 million, a P/E ratio of 13.78 and a beta of 0.29. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $19.59 and a 200 day moving average price of $17.56.

Old Point Financial (NASDAQ:OPOF) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.47 earnings per share (EPS) for the quarter. The firm had revenue of $15.78 million during the quarter. Old Point Financial had a return on equity of 7.38% and a net margin of 9.47%.

Old Point Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.56 annualized dividend and a dividend yield of 2.52%. Old Point Financial’s dividend payout ratio is presently 35.00%.

Institutional Trading of Old Point Financial

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Old Point Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 45,205 shares of the bank’s stock valued at $874,000 after acquiring an additional 693 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Old Point Financial by 5.4% during the third quarter. Empowered Funds LLC now owns 18,442 shares of the bank’s stock valued at $356,000 after acquiring an additional 938 shares in the last quarter. Eastern Bank acquired a new stake in shares of Old Point Financial during the third quarter valued at about $57,000. Fourthstone LLC lifted its position in shares of Old Point Financial by 44.9% during the third quarter. Fourthstone LLC now owns 81,594 shares of the bank’s stock worth $1,576,000 after purchasing an additional 25,273 shares during the last quarter. Finally, PL Capital Advisors LLC lifted its position in shares of Old Point Financial by 19.2% during the second quarter. PL Capital Advisors LLC now owns 720,861 shares of the bank’s stock worth $10,575,000 after purchasing an additional 116,015 shares during the last quarter. 33.43% of the stock is currently owned by institutional investors and hedge funds.

About Old Point Financial

Old Point Financial Corporation operates as the bank holding company for The Old Point National Bank of Phoebus that provides consumer, mortgage, and business banking services for individual and commercial customers in Virginia. It offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits.